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Microeconomics.d

Microeconomics.d

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80 вопросов Вариант 1 Доступ 7 дней
Содержание теста

Вопросы и варианты

Без отметок и подсказок к правильным ответам

Вопрос 1

… is the study of some small part of the whole economy:

  1. normative economics
  2. positive economics
  3. macroeconomics
  4. mircoeconomics
Вопрос 2

… is a branch of the economics field that studies how the aggregate economy behaves.

  1. normative economics
  2. positive economics
  3. macroeconomics
  4. microeconomics
Вопрос 3

Effective utilization of limited resources in order to fulfil the …

  1. limited wants
  2. unlimited wants
  3. unlimited resources
  4. unlimited goals
Вопрос 4

Rational consumer will take an action only when the marginal benefit of the action … the marginal cost.

  1. decrease
  2. deficiency
  3. exceeds
  4. less than
Вопрос 5

Households and firms are … in the economy.

  1. visible hands
  2. visible body
  3. invisible body
  4. invisible hands
Вопрос 6

… promote equality and efficiency.

  1. private companies
  2. public policies
  3. public companies
  4. monopoly
Вопрос 7

Nation’s standard of living depends on its …

  1. productivity
  2. imports
  3. public parks
  4. number of cinemas
Вопрос 8

… is an increase in the overall level of prices in the economy

  1. production
  2. deflation
  3. inflation
  4. poverty
Вопрос 9

Higher … for goods lead to higher production.

  1. supply
  2. demand
  3. labor
  4. supplies
Вопрос 10

… develops competition worldwide.

  1. trade
  2. supply
  3. demand
  4. monopoly
Вопрос 11

Economists are … to manipulate the data

  1. allowed
  2. not allowed
  3. permitted
  4. legalized
Вопрос 12

… help the economists to build the efficient economic policies.

  1. future events
  2. present events
  3. coming events
  4. past historical events
Вопрос 13

… can simplify the complex world and make it easier to understand.

  1. choices
  2. assumptions
  3. trade off
  4. scarcity
Вопрос 14

The assumptions are … for the short run and long run study of the economic theories.

  1. similar
  2. quite similar
  3. related
  4. different
Вопрос 15

Economists use … to test their theories

  1. psychological approach:
  2. complex approach
  3. scientific approach
  4. political approach
Вопрос 16

A graph that shows the combinations of output that the economy can possibly produce is …

  1. production possibility curve
  2. demand curve
  3. supply curve
  4. indifference curve
Вопрос 17

Production Possibility Curve is … slopping.

  1. upward
  2. downward
  3. leftward
  4. inward
Вопрос 18

Production Possibility Curve can shift if …

  1. labor changes
  2. capital changes
  3. technology changes
  4. all of the above
Вопрос 19

Positive statements are …

  1. prescriptive
  2. descriptive
  3. negative
  4. inflexible
Вопрос 20

Normative statements are …

  1. prescriptive
  2. descriptive
  3. negative
  4. inflexible
Вопрос 21

The buyers as a group determine the … for the product

  1. demand
  2. supply
  3. price
  4. labor
Вопрос 22

In Perfect Competition, there are …

  1. many buyers & two sellers
  2. many buyers & one seller
  3. many buyers & sellers
  4. many buyers & three sellers
Вопрос 23

In Monopoly, there is …

  1. only one buyer
  2. only one seller
  3. only one market
  4. only one government
Вопрос 24

Other things being equal, when the price of a good rises, the quantity demanded of the good falls, and when the price falls, the quantity demanded rises.

  1. law of supply
  2. law of demand
  3. law of gravity
  4. law of utility
Вопрос 25

The demand curve slopes …

  1. upward
  2. inward
  3. downward
  4. outward
Вопрос 26

Other things being equal, when the price of a good rises, the quantity supplied of the good also rises, and when the price falls, the quantity supplied falls as well.

  1. law of supply
  2. law of demand
  3. law of gravity
  4. law of utility
Вопрос 27

The supply curve slopes …

  1. upward
  2. inward
  3. downward
  4. outward
Вопрос 28

Market is in … when Quantity Supplied is equal to Quantity Demanded.

  1. disequilibrium
  2. equilibrium
  3. failure
  4. efficient
Вопрос 29

Shortage is when quantity demanded is … than quantity supplied.

  1. greater
  2. less
  3. shorter
  4. flexible
Вопрос 30

Surplus is when quantity demanded is … than quantity supplied.

  1. greater
  2. less
  3. shorter
  4. flexible
Вопрос 31

… is a measure of the responsiveness of quantity demanded or quantity supplied to a change in one of its determinants.

  1. elasticity
  2. law of demand
  3. law of sypply
  4. law of utility
Вопрос 32

Price Elasticity of Demand of necessary goods is …

  1. unitary elastic
  2. elastic
  3. inelastic
  4. perfectly elastic
Вопрос 33

Price Elasticity of Demand of luxury goods is …

  1. unitary elastic
  2. elastic
  3. inelastic
  4. perfectly elastic
Вопрос 34

Price Elasticity of Demand of goods in short-run period:

  1. unitary elastic
  2. elastic
  3. inelastic
  4. perfectly elastic
Вопрос 35

If the percentage change in quantity demanded is less than the percentage change in price.

  1. equal to unity
  2. less than unity
  3. greater than unity
  4. all of the above
Вопрос 36

If the percentage change in quantity demanded is greater than percentage change in price.

  1. equal to unity
  2. less than unity
  3. greater than unity
  4. all of the above
Вопрос 37

Perfectly Inelastic Supply curve is …

  1. horizontal
  2. vertical
  3. downward slopping
  4. upward slopping
Вопрос 38

Supply is said to be unit elastic if the absolute value of the own price elasticity is equal to …

  1. zero
  2. one
  3. two
  4. hundred
Вопрос 39

Calculating the Price Elasticity of Supply by the percentage change in the quantity supplied due to the percentage change in price is … method.

  1. percentage
  2. arc elasticity
  3. point
  4. unitary elastic
Вопрос 40

Price Elasticity of Supply of perishable goods is …

  1. unitary elastic
  2. elastic
  3. perfectly inelastic
  4. perfectly elastic
Вопрос 41

In order to control the market outcomes Government use the tools of

  1. taxes
  2. price ceiling
  3. price floor
  4. all of the above
Вопрос 42

Price ceiling brings a … in a market.

  1. shortage
  2. surplus
  3. market equilibrium
  4. market efficiency
Вопрос 43

A legal … on the price at which a good can be sold is called Price Floor.

  1. maximum
  2. minimum
  3. extreme
  4. ban
Вопрос 44

Price floor brings a … in a market.

  1. shortage
  2. surplus
  3. market equilibrium
  4. market efficiency
Вопрос 45

The manner in which the burden of a tax is shared among participants in a market is called …

  1. tax accident
  2. tax leakage
  3. tax incidence
  4. tax imposition
Вопрос 46

The study of how government might intervene to improve social welfare is called …

  1. public relations
  2. microeconomics
  3. welfare economics
  4. international economics
Вопрос 47

Consumer surplus is closely related to the … for a product.

  1. supply curve
  2. demand curve
  3. indifference curve
  4. production possibility curve
Вопрос 48

The area below the price line and above the supply curve measures the … in a market

  1. consumer surplus
  2. producer surplus
  3. total surplus
  4. supplier surplus
Вопрос 49

Producer surplus is the amount a seller is paid … the cost of production.

  1. plus
  2. minus
  3. divide
  4. multiply
Вопрос 50

Maximum Total Surplus guarantees …

  1. market disturbance
  2. market failure
  3. market efficiency
  4. market disaster
Вопрос 51

… is any human activity that creates or increases value.

  1. consumption
  2. saving
  3. production
  4. innovation
Вопрос 52

Resources that are required to produce goods & services are called …

  1. factors of consumption
  2. factors of savings
  3. factors of production
  4. factors of intake
Вопрос 53

… of labor is the change in the total product due to change in the one unit of variable input.

  1. total product
  2. marginal product
  3. unitary product
  4. beneficial product
Вопрос 54

Output of a firm can either be a final commodity or … product.

  1. complete
  2. finished
  3. intermediate
  4. whole
Вопрос 55

The cost that varies with the change in the output is called …

  1. total cost
  2. total fixed cost
  3. total variable cost
  4. marginal cost
Вопрос 56

Average Fixed Cost plus Average Variable Cost is equal to …

  1. average total cost
  2. total cost
  3. cost
  4. average total product
Вопрос 57

… is the change in the total cost due to the change in the total output by one unit.

  1. marginal product
  2. marginal income.
  3. marginal cost
  4. marginal revenue
Вопрос 58

Labor market will be in equilibrium when …

  1. demand of labor = supply of labor
  2. marginal cost = marginal product
  3. marginal cost = zero
  4. demand of a good = supply of a good
Вопрос 59

Diminishing marginal product is when the marginal product of an input declines as the quantity of the input …

  1. decreases
  2. increases
  3. remains constant
  4. slows down
Вопрос 60

The labor demand curve shifts when

  1. the output price
  2. technological change
  3. the supply of other factors
  4. all of the above
Вопрос 61

In Perfect Competitive Market buyers & sellers are price …

  1. maker
  2. taker
  3. decider
  4. owner
Вопрос 62

The goal of the firm is to maximize its …

  1. labor
  2. cost
  3. rent
  4. profit
Вопрос 63

If marginal cost is greater than marginal revenue, the firm should … its output.

  1. increase
  2. stop producing
  3. decrease
  4. double
Вопрос 64

The firm … if its total revenue is less than variable cost.

  1. produces more
  2. shuts down
  3. hire more workers
  4. expands its production
Вопрос 65

A perfect competitive market maximizes profit by choosing the quantity at which

  1. average total cost is at its minimum.
  2. marginal cost equals the price.
  3. average total cost equals the price.
  4. marginal cost equals average total cost
Вопрос 66

… arises because a single firm can supply a good or service to an entire market at a smaller cost than could two or more firms.

  1. natural monopoly
  2. artificial monopoly
  3. perfect competition
  4. monopolies
Вопрос 67

A monopolist’s … is always less than the price of its good.

  1. total revenue
  2. marginal cost
  3. marginal profit
  4. marginal revenue
Вопрос 68

A monopoly maximizes profit by choosing the quantity at which marginal revenue equals …

  1. marginal cost
  2. marginal profit
  3. average cost
  4. total cost
Вопрос 69

Monopolist is the price …

  1. maker
  2. taker
  3. decider
  4. owner
Вопрос 70

The monopoly pricing causes …

  1. increase in prices
  2. production loss
  3. loss
  4. dead weight loss
Вопрос 71

The attribute, quality, characteristic or the capacity of a good or service to satisfy some human want is called …

  1. utility
  2. ceiling
  3. floor
  4. value
Вопрос 72

The change in the total utility by consuming an extra/additional unit of the commodity is …

  1. total utility
  2. marginal utility
  3. beneficial utility
  4. cross utility
Вопрос 73

When the total utility is maximum and marginal utility of a commodity is zero.

  1. zero point
  2. saturation point
  3. cross utility
  4. diminishing marginal utility
Вопрос 74

When Marginal Utility is negative, Total Utility …

  1. increases
  2. decreases
  3. constant
  4. doubles
Вопрос 75

The objective of the consumer is to maximize total utility by spending his …

  1. limited cost
  2. limited income
  3. limited knowledge
  4. limited utility
Вопрос 76

… shows the various combinations of two commodities which gives the same level of satisfaction to the consumer.

  1. demand curve
  2. production possibility curve
  3. indifference curve
  4. supply curve
Вопрос 77

A higher the Indifference Curve, the higher will be the …

  1. satisfaction
  2. income
  3. price
  4. expectation
Вопрос 78

In between two Indifference Curves, there can be … Indifference Curves.

  1. zero
  2. one
  3. three
  4. many
Вопрос 79

… shows the various combinations of good that can be purchased if the entire money income is spent.

  1. indifference curve
  2. budget line
  3. price line
  4. demand line
Вопрос 80

If the price of only one commodity changes, the budget line will …

  1. shift to the right
  2. shift to the left
  3. rotate
  4. no changes